Turkey’s ruling party is proposing a wave of fresh corporate tax incentives aimed at bringing capital and high-net-worth individuals into the country.
The ruling Justice and Development Party (AKP) tabled a bill in the Turkish parliament Tuesday that would reduce corporate income taxes for exporting activities and ring-fence certain tax incentives to ensure they don’t violate Turkey’s domestic minimum tax rules.
The bill would provide a 20-year foreign-income tax exemption for new residents, reduce the inheritance tax, and establish an asset-repatriation amnesty on money, gold, foreign currency and securities.
The AKP also proposes to reduce the corporate income tax rate ...